FY2024 EPS Estimates for Boralex Inc. (TSE:BLX) Raised by Cormark

Boralex Inc. (TSE:BLX) – Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of Boralex in a note issued to investors on Thursday, August 15th. Cormark analyst N. Boychuk now anticipates that the company will post earnings of $1.38 per share for the year, up from their previous forecast of $1.08. The consensus estimate for Boralex’s current full-year earnings is $1.06 per share. Cormark also issued estimates for Boralex’s FY2025 earnings at $1.55 EPS.

Several other research analysts also recently commented on BLX. National Bankshares boosted their target price on Boralex from C$43.00 to C$46.00 in a report on Monday, July 8th. CIBC boosted their target price on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Scotiabank boosted their target price on Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. BMO Capital Markets boosted their target price on Boralex from C$37.00 to C$39.00 in a report on Thursday, August 15th. Finally, Royal Bank of Canada upped their price objective on Boralex from C$36.00 to C$38.00 in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$42.90.

Boralex Stock Down 0.6 %

Shares of BLX opened at C$33.29 on Monday. The company has a market capitalization of C$3.42 billion, a P/E ratio of 35.80, a PEG ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 174.81, a current ratio of 0.95 and a quick ratio of 1.54. Boralex has a one year low of C$25.40 and a one year high of C$36.68. The business’s 50 day simple moving average is C$33.88 and its 200-day simple moving average is C$31.31.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, August 30th. Boralex’s dividend payout ratio is 70.97%.

About Boralex

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.